Looking after your money can be a tough task at the best of times, especially when you’re having to worry about taking out yearly car insurance. Generally, insurance for students is very expensive – this tends to be because providers view these age groups as being more high risk than other elements of society (and unfortunately the statistics back up this attitude). Students suffer particularly badly, as they often live in areas of high crime, meaning their insurance payments increase.

Whilst the impulse may be to just go for the cheapest insurance policy you can find, it would probably be advisable to pay the same level of attention to your policy as you do to its’ price. You need to make sure that the policy you choose is right for your circumstances, and that you’re choice isn’t based entirely on price.

I’ll accept however that price will be the main element for most students, and their choice of policy will usually come down to this bottom line. With that in mind, let’s look at some of the ways students can save money on vehicle insurance.

A very simple bit of advice would be to try and think about your premium before you’ve even bought the car itself. It might be tempting to get something ‘cool’, but in reality you should be aiming for something in a low insurance band; that means a small engine and no modifications.
Try and keep your vehicle as secure as you can when you’re not using it – if you have a garage, use it to lock your car away at night. This will cut your insurance premium as the likelihood of theft or damage whilst the car is parked is drastically decreased.
You could also agree driving limits with your insurers, such as only driving a certain amount of hours per month, or agreeing not to drive during rush hour. If your schedule allows you to do this, you should definitely consider it as it will lower your premium. You could try going with short term car insurance and/or one day insurance, as this is hugely cheaper and if you’re only going to be using your car during specific periods, may well be a good option.
You could also consider taking the pass plus, which if passed straight after your test, will save you a minimum of 10% on your first years insurance.

Whatever you decide to go for, make sure you properly shop around lots of companies offer an instant car insurance quote , which when used in conjuction with price comparison websites, should give you all the information needed to make the best decision for you personally.